Aegean Marine Petroleum Network Inc. Files for Chapter 11 to Implement Restructuring Transaction with Mercuria Energy Group Limited
AEGEAN MARINE PETROLEUM (ANW)
Last aegean marine petroleum earnings: 11/15 04:15 pm
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US:NYSE Investor Relations:
aegeanmarine.gcs-web.com/investor-relations
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- Aegean Marine Petroleum Network Inc. (NYSE:ANW) (“Aegean” or the “Company”) announced today that the Company and certain of its subsidiaries (the “debtors”) filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. The debtors enter this process with the support of Mercuria Energy Group Limited (“Mercuria”), a key strategic partner and one of the world’s largest independent energy and commodity companies. Mercuria has agreed to provide more than $532 million in postpetition financing to fund the chapter 11 process and the Company’s working capital needs. It has also agreed to serve as the stalking horse bidder in a sale process designed to optimize the value of the Company as a going concern. The Company continues to explore value-maximizing alternatives. The debtors have filed a motion with t
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